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An increase in occupier demand has resulted in vacancy levels falling. Strong occupier demand in the CBD lead to positive absorption with around 15,900sqm of space being taken up. This was driven by several occupiers who were displaced looked to relocate to accommodation that was up to standard and seismically secure.
However there still remains challenges with uncertainty surrounding seismic issues and government changes. Despite this investor sentiment remains strong as better conditions are predicted to improve.
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10 March 2014